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Archive
- 11/8/2024 -
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Euro Currency Trust (FXE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Euro Currency Trust (FXE). During the week, the FXE dropped -1.10 points, or -1.10%, and closed at 98.88 on Friday, November 8, 2024. Weekly volume was 22% above average.
 Long-term trend: [See FXE long-term trend chart]
A long-term uptrend had started on October 3, 2023 at 96.42 and reached 103.54 on September 25, 2024. FXE gained -7.12 points, or -7.38%, in 51 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 99.64 and resistance is at 98.16. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See FXE medium-term trend chart]
A medium-term uptrend had started on April 16, 2024 at 97.89 and reached 103.54 on September 25, 2024. FXE gained -5.65 points, or -5.77%, in 23 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (100.02) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See FXE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 11, 2024. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See FXE short-term trend chart]
A short-term downtrend had started on November 5, 2024 at 100.90 and reached 98.70 on November 8, 2024. FXE lost 2.20 points, or 2.18%, in 3 days. The price is now at the 8.18% retracement level.
 Daily Technical Indicators: [See FXE daily technical indicators chart]
Daily technical indicators are neutral. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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